Waseem Saddique
Marketing Services delves into newly published data and outlines the implications for
global business and marketing strategies.
The Facts
- 74.1% of all electronics are bought online
- 74.0% of UK consumers purchase groceries online
- 74.0% of all music and videos are purchased online
- 67.8% of all office supplies are bought online
- 65.9% of all clothing sales are bought online
- 65.8% of all furniture sales are bought online
- 61.4% of all games and toys are bought online
Waseem Saddique comments: “Internet business is big however,
some enterprises have failed to tap into the potential profits that could be
made as a result of failing to capitalise on consumer habits.”
Based on the data, compiled by BrainSINS, the 74.1% of
electronics purchased online equates to £5.5 billion. This figure is in stark
contrast to the £1.8 billion spent on electronic goods in store.
The release of the data has been hailed by business leaders
as they are able to absorb the information and refine marketing strategies
making them more ‘target specific’. A number of corporations have also stressed
that the information will ‘go a long way’ to helping them improve their social
media efforts on social networking sites such as Twitter and Facebook.
With dwindling numbers on the UK’s High Streets, a number of
businesses that used to rely on footfall and passing trade have had to adapt
and embrace the online revolution. Recent research, conducted by Hubspot.com,
reveals that 84% of High Street retailers now also have an online platform,
with 75% of those businesses recording sales increases since targeting the
online consumer.
Waseem Saddique comments: “2013 will prove to be a pivotal
year in terms of the UK economy, that’s why it’s important for businesses to
make use of the essential data that is provided to them. This latest research
shows that there is still room for growth and internet marketing experts predict
current percentages to increase to figures of 80% by 2014.”
Marketing Strategies
BrainSINS researchers stated that the release of this
information, at this time, was done as Christmas 2013 approaches. In a time
when the UK needs to experience a period of economic growth, this information
allows business leaders to devise effective strategies to market themselves and
their products/services in order to increase consumer spend.
Now businesses know where the majority of money is being
spent by consumers online it puts corporations in a prime position to
capitalise on that information.
Waseem Saddique states: “Businesses have always relied on
such information to succeed, in an age of analytics that information is now
readily and consistently available. The challenge now is how companies make use
of the information to maximise its full potential.”
